ING vs. TD: ING Groep vs. Toronto-Dominion Bank Stock Comparison

November 11, 2026

How do ING Groep (ING) and Toronto-Dominion Bank (TD) stack up? This page sets them side by side across company profile, performance and risk, profitability, growth, financial strength, dividends, and valuation, with selected fundamentals also measured against each stock's industry-group peers.

Company Profile

ING Groep (ING) and Toronto-Dominion Bank (TD) are both classified in the Diversified Banks sub-industry within the broader Banks industry, placing them in the closest GICS peer bucket.

Toronto-Dominion Bank (TD) trades as ordinary local shares, while ING Groep (ING) trades as an ADR — compare with FX exposure, depositary-program fees, and dividend-withholding-tax differences in mind.

Company profile comparison for ING Groep (ING) and Toronto-Dominion Bank (TD)
Profile Item	ING	TD
Name	ING Groep N.V. Sponsored ADR	Toronto-Dominion Bank
Country/Region	Netherlands	Canada
GICS Sector	Financials	Financials
GICS Industry Group	Banks	Banks
GICS Industry	Banks	Banks
GICS Sub-Industry	Diversified Banks	Diversified Banks
Market Capitalization	90.37 billion USD	199.88 billion USD
Currency	USD	USD
Exchange	NYSE	NYSE
Listing Date	May 18, 1994	August 30, 1996
Security Type	ADR	Common Stock

Price Performance

Cumulative Growth

ING

GSPC

ING Groep (ING) vs. Toronto-Dominion Bank (TD), with S&P 500 (GSPC) for reference: Growth of a $10,000 investment over the past five years. Adjusted for dividends and splits.

Trailing Returns

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Trailing total returns for ING Groep (ING) and Toronto-Dominion Bank (TD). Returns over one year are annualized.

Calendar-Year Returns

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Calendar-year total returns for ING Groep (ING) and Toronto-Dominion Bank (TD). Each bar is that year's total return, measured year-end to year-end.

Performance Metrics

Price performance metrics for ING Groep (ING) and Toronto-Dominion Bank (TD)
Metric	ING	TD
Total Return (1Y)	34.23%	57.20%
Total Return (3Y, Annualized)	44.65%	32.99%
Total Return (5Y, Annualized)	24.74%	15.46%

Risk Profile

Drawdown History

ING

GSPC

ING Groep (ING) vs. Toronto-Dominion Bank (TD), with S&P 500 (GSPC) for reference: Drawdown from the running peak over the past five years. Each line shows the decline from its prior peak; 0% marks a new high.

Return Distribution

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Distribution of monthly total returns for ING Groep (ING) and Toronto-Dominion Bank (TD). Each bar is the share of months whose return fell in that 5% bucket.

Risk Metrics

Risk profile metrics for ING Groep (ING) and Toronto-Dominion Bank (TD)
Metric	ING	TD
Volatility (1Y, Annualized)	28.52%	19.05%
Beta (5Y)	0.85	0.72
Max Drawdown (5Y)	-43.39%	-31.16%
Avg. Volume (3M)	2.24M	1.81M

Risk-Adjusted Performance

Risk-Return Positioning

ING and TD are plotted by 1-year volatility (risk) and 1-year return. The dashed Capital Allocation Line runs from the risk-free rate through the shared industry median.

Risk-Adjusted Metrics

Risk-adjusted metrics for ING Groep (ING) and Toronto-Dominion Bank (TD)
Metric	ING	TD
Sharpe Ratio (1Y)	1.05	2.78
Sortino Ratio (1Y)	1.67	4.15

Profitability

ROE (TTM)

ING Groep (ING) at 17.76% sits in the top ROE quartile, while Toronto-Dominion Bank (TD) at 12.83% is closer to the peer norm — stronger capital efficiency for ING.

ING

Banks industry group

17.76%

Max: 19.84%
ING: 17.76%
Q3: 13.67%
Median: 11.49%
Q1: 9.50%
Min: 3.64%

TD

Banks industry group

12.83%

Max: 19.84%
Q3: 13.67%
TD: 12.83%
Median: 11.49%
Q1: 9.50%
Min: 3.64%

ING Groep (ING) vs. Toronto-Dominion Bank (TD): A comparison of their ROE against the Banks industry group benchmark.

Net Margin (TTM)

ING Groep (ING) at 34.40% keeps about the industry-typical share of revenue as profit, while Toronto-Dominion Bank (TD) at 26.62% retains only a bottom-quartile share.

ING

Banks industry group

34.40%

Max: 47.19%
Q3: 35.25%
ING: 34.40%
Median: 31.21%
Q1: 27.11%
Min: 14.93%

TD

Banks industry group

26.62%

Max: 47.19%
Q3: 35.25%
Median: 31.21%
Q1: 27.11%
TD: 26.62%
Min: 14.93%

ING Groep (ING) vs. Toronto-Dominion Bank (TD): A comparison of their net margin against the Banks industry group benchmark.

Operating Margin (TTM)

Neither side reports a meaningful operating margin: for ING Groep (ING) in Banks and Toronto-Dominion Bank (TD) in Banks, funding costs are part of the core business, so net margin and ROE are the cleaner profitability reads.

Profitability Metrics

Profitability metrics for ING Groep (ING) and Toronto-Dominion Bank (TD)
Metric	ING	TD
ROE (TTM)	17.76%	12.83%
ROA (TTM)	0.79%	0.78%
Net Margin (TTM)	34.40%	26.62%
Operating Margin (TTM)	--	--
Gross Margin (TTM)	--	--

Growth

Revenue Growth

Toronto-Dominion Bank (TD) at 8.93% is around its peer norm for revenue growth, while ING Groep (ING) at 1.55% drops into the bottom quartile, signaling weaker demand or pricing momentum.

ING Groep (ING) vs. Toronto-Dominion Bank (TD): A comparison of their Revenue Growth across different time periods.

EPS Growth

Toronto-Dominion Bank (TD) at 144.92% clears its industry range for EPS growth, a much stronger earnings trajectory than ING Groep (ING) at 7.07%, which is closer to a typical peer reading.

ING Groep (ING) vs. Toronto-Dominion Bank (TD): A comparison of their EPS Growth across different time periods.

Growth Metrics

Growth metrics for ING Groep (ING) and Toronto-Dominion Bank (TD)
Metric	ING	TD
Revenue Growth (YoY)	1.55%	8.93%
Revenue Growth (3Y CAGR)	6.63%	10.22%
EPS Growth (YoY)	7.07%	144.92%
EPS Growth (3Y CAGR)	28.04%	6.87%

Financial Strength

Current Ratio (MRQ)

current ratio doesn’t apply on either side: ING Groep (ING) in Banks and Toronto-Dominion Bank (TD) in Banks both report balance sheets without a current/non-current split, so their short-term liquidity is better judged through regulatory and funding measures.

Debt / Equity (MRQ)

debt-to-equity ratio is set aside for both: ING Groep (ING) in Banks and Toronto-Dominion Bank (TD) in Banks run businesses where balance-sheet leverage is part of the model, so capital-adequacy and funding measures are the better gauges of balance-sheet risk.

Financial Strength Metrics

Financial strength metrics for ING Groep (ING) and Toronto-Dominion Bank (TD)
Metric	ING	TD
Current Ratio (MRQ)	--	--
Debt / Equity (MRQ)	--	--
Net Debt / EBITDA	--	--

Dividends

Dividend Yield (TTM)

Both ING Groep (ING) at 4.55% and Toronto-Dominion Bank (TD) at 3.52% offer top-quartile dividend income relative to share price within their industries.

ING

Banks industry group

4.55%

Max: 5.79%
ING: 4.55%
Q3: 3.18%
Median: 2.39%
Q1: 1.20%
Min: 0.00%

TD

Banks industry group

3.52%

Max: 5.79%
TD: 3.52%
Q3: 3.18%
Median: 2.39%
Q1: 1.20%
Min: 0.00%

ING Groep (ING) vs. Toronto-Dominion Bank (TD): A comparison of their dividend yield against the Banks industry group benchmark.

Dividend Payout Ratio (TTM)

Both ING Groep (ING) at 48.14% and Toronto-Dominion Bank (TD) at 46.36% pay out an above-typical share of earnings for their industries, leaving thinner cover if profits dip.

ING

Banks industry group

48.14%

Max: 70.75%
ING: 48.14%
Q3: 41.28%
Median: 29.26%
Q1: 18.98%
Min: 0.00%

TD

Banks industry group

46.36%

Max: 70.75%
TD: 46.36%
Q3: 41.28%
Median: 29.26%
Q1: 18.98%
Min: 0.00%

ING Groep (ING) vs. Toronto-Dominion Bank (TD): A comparison of their payout ratio against the Banks industry group benchmark.

Dividend Metrics

Dividend metrics for ING Groep (ING) and Toronto-Dominion Bank (TD)
Metric	ING	TD
Dividend Yield (TTM)	4.55%	3.52%
Dividend Payout Ratio (TTM)	48.14%	46.36%

Valuation

P/E Ratio (TTM)

ING Groep (ING) at 11.70 is near its industry’s usual P/E ratio, while Toronto-Dominion Bank (TD) at 18.16 sits in the richer quartile — TD needs stronger growth or earnings quality to justify the premium.

ING

Banks industry group

11.70

Max: 18.16
Q3: 13.75
Median: 11.81
ING: 11.70
Q1: 10.64
Min: 6.49

TD

Banks industry group

18.16

TD: 18.16
Max: 18.16
Q3: 13.75
Median: 11.81
Q1: 10.64
Min: 6.49

ING Groep (ING) vs. Toronto-Dominion Bank (TD): A comparison of their P/E ratio against the Banks industry group benchmark.

P/S Ratio (TTM)

P/S ratio is set aside for both ING Groep (ING) in Banks and Toronto-Dominion Bank (TD) in Banks: without a conventional revenue line, pricing per dollar of sales isn’t meaningful, and book- or earnings-based multiples make the better comparison.

P/B Ratio (MRQ)

Both ING Groep (ING) at 1.61 and Toronto-Dominion Bank (TD) at 2.27 carry a premium to book value versus peers, sitting in the upper P/B ratio quartile of their industries.

ING

Banks industry group

1.61

Max: 2.28
ING: 1.61
Q3: 1.58
Median: 1.32
Q1: 1.10
Min: 0.59

TD

Banks industry group

2.27

Max: 2.28
TD: 2.27
Q3: 1.58
Median: 1.32
Q1: 1.10
Min: 0.59

ING Groep (ING) vs. Toronto-Dominion Bank (TD): A comparison of their P/B ratio against the Banks industry group benchmark.

Valuation Metrics

Valuation metrics for ING Groep (ING) and Toronto-Dominion Bank (TD)
Metric	ING	TD
P/E Ratio (TTM)	11.70	18.16
P/S Ratio (TTM)	--	--
P/B Ratio (MRQ)	1.61	2.27
Free Cash Flow Yield (TTM)	--	--